Automotive
Tesla Repays DOE Loan Nine Years Early
May 23, 2013 11:15 am | by Joel Hans, Managing Editor, Manufacturing.net | News | CommentsTesla Motors, the California-based electric vehicle manufacturer, has announced that it has paid off its 2010 loan from the Department of Energy (DOE) in full as of today. The payment of $451.8 million repays the full loan with interest. The company claims it is the only American automaker to have fully repaid the government of its loans.
Nissan To Recall 840,000 Vehicles
May 23, 2013 10:21 am | News | CommentsNissan Motor Co. said Thursday it will recall around 840,000 March and Cube compact cars, including 263,942 units in Japan, produced between February 2002 and August 2004, due to faulty steering wheels. The bolts connecting the steering wheels and steering columns in the two models may not have been screwed on properly and could lead to a loss of control.
Chevy Spark To Be Among Lowest-Price Electric Cars
May 23, 2013 8:13 am | News | CommentsGeneral Motors Co. says the Spark EV subcompact will be among the lowest-priced electric cars in the U.S. The electric Spark will have a starting price of $27,495 when it goes on sale next month in California and Oregon. GM also is offering a low-mileage lease for $199 per month, with $999 due when the lease is signed.
3 Former Execs Sue Carbon Motors Over Pay
May 23, 2013 8:12 am | News | CommentsThree former executive vice presidents of a company that planned to build high-tech police cars at an eastern Indiana factory have sued the corporation for more than $600,000 in deferred wages. The company fell apart after the U.S. Department of Energy rejected the company's request for a $310 million loan last year.
GM Recalling Cadillac SUVs To Tighten Wheels
May 23, 2013 8:02 am | News | CommentsGeneral Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off. The company says the recall affects the 2013 Cadillac SRX with 18-inch wheels. Canadian safety regulators say the wheel nuts may not have been tightened enough at the factory.
Ford To End Auto Production In Australia
May 22, 2013 10:03 pm | by Kristen Gelineau, Associated Press | News | CommentsThe closure of the U.S. automaker's plants in the state of Victoria will mean the loss of 1,200 jobs and will transform the company into an import-only brand in Australia. Ford began making cars in Australia in 1925 and is the third largest auto manufacturer in the country.
Fiat Industrial Considers Making Tax Home In UK
May 22, 2013 10:09 am | News | CommentsFiat Industrial is considering moving its tax home to Britain after it completes the merger with its U.S.-based subsidiary CNH. The possible move by the maker of heavy trucks, farm and construction vehicles would be a blow to the new Italian government of Enrico Letta, which is struggling to put public finances in order.
Japanese Execs Face Prison For Price Fixing
May 22, 2013 8:19 am | News | CommentsTwo executives at Japanese auto supplier Denso Corp. are facing more than a year in U.S. federal prison for fixing prices on auto parts. Yuji Suzuki and Hiroshi Watanabe have pleaded guilty to charges that they fixed prices and allocated bids for electronic control units and heater control panels that were sold to Toyota Motor Corp. in the U.S. and elsewhere.
Ex-Ford Execs Charged In Argentine Torture Cases
May 22, 2013 7:49 am | by Michael Warren, Associated Press | News | CommentsThe 150-page indictment written by Judge Alicia Vence reads like a history lesson, going to considerable lengths to explain why their actions constitute crimes against humanity and why it has taken nearly four decades to result in criminal charges.
U.S. Auto Factories Cutting Back On Summer Downtime
May 22, 2013 7:43 am | by Dee-Ann Durbin, AP Auto Writer | News | CommentsThe three Detroit carmakers traditionally shut factories for 14 days around July 4 to do maintenance and change the machinery for new models. But they don't have that luxury this year. U.S. demand for new cars and trucks has been strong, up 7 percent through April, led by soaring demand for full-size pickup trucks.
GM Investing $44.5 Million In Mich. Plant, Hiring 200
May 21, 2013 10:55 am | by Joel Hans, Managing Editor, Manufacturing.net | News | CommentsLansing, Mich.-based General Motors today announced a $44.5 million investment for its Lansing Grand River Assembly plant, which currently manufactures the Cadillac ATS and CTS. With the investment, the company will build a 400,000 square-foot Logistics Optimization Center and hire 200 additional employees.
GM Giving Paid Internships To 110 HS Students
May 21, 2013 8:10 am | News | CommentsGeneral Motors is kicking the tires on a unique new internship program for Detroit-area high school students. GM has hired 110 students for paid summer internships, the automaker said Monday in announcing the formation of the GM Student Corps, a program that combines service, education and mentoring.
Judge Gives Final Approval To A123 Bankruptcy Plan
May 20, 2013 1:59 pm | by Randall Chase, AP Business Writer | News | CommentsA Delaware bankruptcy judge has given final approval to the reorganization plan of failed battery maker A123 Systems Inc., which was the recipient of a $249 million Department of Energy grant. Monday's court hearing resolved minor outstanding issues following the sale of most of the company's assets to the U.S. arm of Wanxiang Group Corp. for nearly $257 million.
Ex-Saab Execs Arrested On Accounting Charges
May 20, 2013 1:46 pm | News | CommentsProsecutor Olof Sahlgren says the three are "suspected of aggravated attempts to avoid tax controls" by allegedly falsifying parts of Saab's accounts between 2010 and 2011 — a crime that carries a sentence of up to four years in prison.
Silicon Valley-Area Hub Becomes Factory Town
May 20, 2013 8:28 am | by Martha Mendoza, AP National Writer | News | CommentsFrom Tesla Motors, making cutting-edge cars, to Solaria, making solar panels, manufacturers are drawn to Fremont by incentives including a five-year waiver on business taxes, an expedited regulatory process, proximity to Silicon Valley firms and a skilled labor force.
1 Millionth Jeep Wrangler Built At Toledo Plant
May 20, 2013 7:52 am | News | CommentsAuto workers in Toledo celebrated a milestone this past week. The 1 millionth Jeep Wrangler rolled off the assembly line at Chrysler's assembly plant that opened in 2006. Chrysler marked the occasion Friday with a ceremony at the production line.
UAW Study: Nissan Subsidies Top $1.3B
May 17, 2013 1:33 pm | by Jeff Amy, Associated Press | News | CommentsNissan Motor Co.'s Mississippi plant is on track to receive more state aid and tax breaks than what state and company officials have previously revealed, according to a study paid for by the United Auto Workers, which is questioning whether the state is getting enough for its money.
GM Stock Rises Above $33 For First Time In 2 Years
May 17, 2013 1:30 pm | by Tom Krisher, AP Auto Writer | News | CommentsShares of General Motors reached an important milestone on Friday, topping their initial public offering price of $33 for the first time in more than two years. The automaker's stock, which has been on a tear since January, reached $33.58 Friday morning before slipping back to $33.52, up 3.5 percent, around midday.
4-month Strike At Peugeot Citroen Plant Ends
May 17, 2013 11:27 am | News | CommentsA four-month strike at a car factory north of Paris has come to an end, although the workers say they will still fight a plan to close the plant. PSA Peugeot Citroen said Friday that it had signed an agreement with the CGT union to end the strike, which started in January. The CGT called the strike "suspended."
China: Cadillac Recalling SUVs To Fix Wheel Nuts
May 17, 2013 7:38 am | News | CommentsChina's product safety agency says General Motors Co.'s main Chinese joint venture is recalling Cadillac SUVs to correct a problem with nuts that hold their wheels in place. The General Administration of Quality Supervision, Inspection and Quarantine said Friday that Shanghai GM will recall 2,653 imported Cadillac SRXs.
European Car Sales Up For First Time Since 2011
May 17, 2013 7:36 am | by Colleen Barry, AP Business Writer | News | CommentsNew car registrations in April were up 1.7 percent on the same time last year, the ACEA's latest figures show. Although the April rise has more to do with the two extra work days last month due to an early Easter, sales figures for the year so far gave some cause for hope.
Sage Automotive Interiors Acquires Apo-Tessile Seating Assets
May 16, 2013 3:51 pm | News | CommentsThe Greenville, S.C.-based Sage Automotive Interiors has announced its acquisition of the automotive fabric manufacturing assets of Poland-based Apo-Tessile. Sage says it hopes to better provide new automotive interior products to the European market, and the current facility in Zary, Poland, is positioned to supply cut and sew facilities in central and eastern Europe. The operations will be called Sage Automotive Interiors Poland.
Only 2 Of 13 Small SUVs Do Well In Crash Tests
May 16, 2013 10:17 am | by Tom Krisher, AP Auto Writer | News | CommentsSubaru's 2014 Forester was the only vehicle to get a "good" rating. The 2013 Mitsubishi Outlander Sport received an "acceptable" rating. But top-selling models such as the Ford Escape, Honda CR-V and Jeep Wrangler received only "marginal" or "poor" ratings from the Insurance Institute for Highway Safety.
Daimler Unveils New Flagship Mercedes Model
May 16, 2013 8:07 am | by David McHugh, AP Business Writer | News | CommentsThe new S-class sedan was shown off Wednesday in Hamburg, Germany. It has a taller grille that changes its exterior appearance, but the major emphasis was on the technology added to increase driver comfort and safety — and underline Mercedes' image as a maker of advanced vehicles for the well-heeled.
Kobe Aluminum To Expand In Bowling Green, Ky., Create 100 Jobs
May 15, 2013 3:47 pm | by Bowling Green Area Chamber of Commerce | News | CommentsKentucky Governor Steve Beshear today joined company and local officials to break ground on an 87,000 square foot addition to Kobe Aluminum Automotive Products (KAAP), LLC advanced manufacturing facility in Bowling Green, representing $66 million of new capital investment and the addition of 100 new full-time employees.
